EURUSD – Especially choppy Euro/US Dollar price action has made for similarly indecisive shifts in crowd sentiment. The ratio of long to short positions in the EURUSD stands at 1.05 as nearly 51% of traders are long. Yesterday, the ratio was at 1.14 as 53% of open positions were long. In detail, long positions are 5.4% lower than yesterday and 8.7% stronger since last week. Short positions are 2.9% higher than yesterday and 20.1% weaker since last week. Open interest is 1.5% weaker than yesterday and 0.6% above its monthly average. On balance the sharp drop in short interest and gain in long positions over the past week leaves us modestly bullish. Yet a near-neutral SSI ratio of 1.05 does not inspire confidence in said bearish forecast.
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